According to a recent 13D filing with the US SEC, billionaire Nelson Peltz‘s Trian Fund Management has sold 10.53 million shares of Legg Mason Inc (NYSE:LM) to Shanda Payment Investment Limited, at a purchase price of $32.00 per share, or for $336.8 million in total. This has left Trian Fund Management, L.P. holding 513,743 shares, which account for only 0.48% of the company’s outstanding stock.
At the end of the fourth quarter, a total of 33 of the hedge funds tracked by Insider Monkey were bullish on this stock. Trian Partners held the most valuable position in Legg Mason Inc (NYSE:LM). Billionaire Mario Gabelli’s GAMCO Investors was another investor bullish on the stock and reported a $155.7 million position in its last 13F filing. Other professional money managers that reported long positions in Legg Mason Inc (NYSE:LM) at the end of December include Robert Pohly’s Samlyn Capital, Andreas Halvorsen’s Viking Global and Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC.
On the other hand, David Harding’s Winton Capital Management dropped the biggest position in Legg Mason Inc (NYSE:LM) of the 700 funds followed by Insider Monkey, valued at about $25 million in stock, and James Parsons’s Junto Capital Management was right behind this move, as the fund dumped about $24.5 million worth of shares.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Nelson Peltz | 0 | 513,743 | 0 | 513,743 | 513,743 | 0.48% |
| Peter W. May | 0 | 513,743 | 0 | 513,743 | 513,743 | 0.48% |
| Edward P. Garden | 0 | 513,743 | 0 | 513,743 | 513,743 | 0.48% |
| Trian Fund Management | 0 | 513,743 | 0 | 513,743 | 513,743 | 0.48% |
| Trian Fund Management GP | 0 | 513,743 | 0 | 513,743 | 513,743 | 0.48% |
| Trian Partners | 0 | 109,428 | 0 | 109,428 | 109,428 | 0.10% |
| Trian Partners Master Fund | 0 | 277,937 | 0 | 277,937 | 277,937 | 0.26% |
| Trian Partners Parallel Fund I | 0 | 13,435 | 0 | 13,435 | 13,435 | 0.01% |
| Trian Partners Strategic Investment Fund | 0 | 48,775 | 0 | 48,775 | 48,775 | 0.05% |
| Trian Partners Strategic Investment Fund-A | 0 | 48,554 | 0 | 48,554 | 48,554 | 0.05% |
| Trian Partners Master Fund (ERISA) | 0 | 14,626 | 0 | 14,626 | 14,626 | 0.01% |
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Page 1 of 17 – SEC Filing
| Brian L. Schorr, Esq. Chief Legal Officer Trian Fund Management, L.P. 280 Park Avenue, 41st Floor New York, New York 10017 Tel. No.: (212) 451-3000 |
